RCI BANK AND SERVICES ACQUIRES AN 75% MAJORITY INTEREST IN iCABBI

On June 8, 2018, RCI Bank and Services acquired a 75% majority interest in iCabbi, a dispatch management1 company for automotive fleets of taxis and PHVs2 that is currently reporting the highest growth rate on the market.

Thanks to iCabbi's software, taxi and PHVs companies calculate their customers’ itineraries and availability of their drivers in real time to optimize management of their fleets of vehicles. iCabbi also offers a reporting tool for taxi and PHVs companies to monitor changes in their business activities.

Founded in 2010 in Ireland, iCabbi has since expanded to the United Kingdom, the United States, and Canada. Over 70,000 taxis and PHVs services around the world currently use iCabbi technology. Its platform currently manages over 3.5 million rides per week.

The app is designed to adapt to all fleet sizes. The cloud-based, flexible solution enables taxi and PHVs companies to reach out to new customers and thus boost their revenue by providing them with a suite of white label products and a system that can easily scale with their growth.

The acquisition of a majority interest is consistent with RCI Bank and Services’ ambition to become a B2B mobility operator and position itself as a services provider for mobility professionals.

“The acquisition of a majority interest in iCabbi is part of RCI Bank and Services’ goal of becoming a service provider for mobility professionals, to whom we now offer a new, high-value added technological building block. With more than 300 million rides managed since its creation, iCabbi has very good knowledge of the market, which will help us continue to develop its business in line with Groupe Renault’s objectives,” says Bruno Kintzinger, Chief Executive Officer of RCI Bank and Services.

Created and wholly owned by Groupe Renault, RCI Banque S.A. is a French bank specializing in automotive financings and services for the customers and dealership networks of Groupe Renault (Renault, Renault Samsung Motors and Dacia) worldwide, the Nissan Group (Nissan, Infiniti and Datsun) mainly in Europe, Brazil, Argentina and South Korea and through joint ventures in Russia and India, and Mitsubishi Motors in the Netherlands. RCI Bank and Services has been the new commercial identity of RCI Banque S.A. since February 2016. With nearly 3,400 employees in 36 countries, RCI Bank and Services financed over 1.77 million contracts (for new and used vehicles) in 2017 and sold more than 4.4 million services. At end-December 2017, average performing assets stood at €39.6 billion of financings and pre-tax income at €1,077 million. RCI Bank and Services has rolled out a deposits collection business in four countries since 2012. At end-December 2017, net collected deposits totaled €14.9 billion, or 34% of the company's assets.

Founded in Dublin in 2010, iCabbi provides dispatch management software to taxi fleets across Ireland, the UK, the US and Canada. iCabbi’s vision is to deliver the taxi industry’s Intelligent Dispatch & Customer Growth Mobility Platform , and along with its partners, provide innovative products and services that keep taxi in the centre of urban mobility.

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